PEMEX struggles to replace production
Mexico’s proven oil and gas reserves fell by 3.1% last year to 13.02 billion BOE as national oil-major Petroleos Mexicanos (PEMEX) was unable to find enough new reserves to replace production last year, the National Hydrocarbons Commission said.

Proved reserves in 1990 stood at 55 billion BOE, but have since been in  sharp decline, reports Reuters. Reserves were relatively stable in recent years, with PEMEX replacing 100% of production in 2012 and 2013, but have slipped in the last two years, according ...

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